Summary: H.R.8148 — 96th Congress (1979-1980)All Information (Except Text)

There is one summary for H.R.8148. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (09/18/1980)

Amends the Internal Revenue Code to allow a taxpayer who, on July 1, 1980, held one or more motor carrier operating authorities an income tax deduction ratably over a period of 36 months, beginning with either July, 1980, or the first month of the taxpayer's first taxable year after July 1, 1980. Sets the amount of such deduction at the greater of: (1) $50,000; or (2) the aggregate adjusted bases of all motor carrier operating authorities held by the taxpayer on July 1, 1980.